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Council hears CPACE financing overview; Exceptional Healthcare seeks to use program for new Farmington micro‑hospital
Summary
State CPACE program administrators briefed the Farmington City Council on Commercial Property Assessed Clean Energy financing; Exceptional Healthcare presented a regional micro‑hospital project and said it intends to use CPACE if the county and city opt in.
Farmington City Councilors received an overview of New Mexico’s Commercial Property Assessed Clean Energy program, known as CPACE, and heard from the developer of a new Exceptional Healthcare micro‑hospital that plans to use the financing tool.
Eric Christensen of Adelante Consulting, the state CPACE administrator, described CPACE as a private‑sector‑funded tool authorized in New Mexico through the Improvement Special Assessment Act (2023). Christensen said municipalities opt in by resolution and counties adopt ordinances because CPACE funding is secured by an improvement special assessment lien on the property; lenders require local participation to place the lien. He described eligible projects — energy efficiency, water conservation, renewable energy and resiliency — and said the program can finance up to 100% of direct and indirect costs, typically functions as part of a capital stack, and charges an…
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